FiT if provider goes bust?

Reed_Richards

My FiT provider is Bulb.  They are due a reading at the end of this month and every previous quarter they have sent a friendly "Hello from Bulb" email about half way through the month to remind me to submit a reading.  But not this time, so far.  This, coupled with reports of Bulb being in financial difficulty, has left me wondering what happens if your FiT provider goes under.  Is there any guarantee of continuity of payment?        

QrizB

I have a suspicion that, as FIT payments are based on the change in meter reading since the last payment, you'll be OK. But I can't point you to anything that spells that out explicitly (to be fair I haven't looked very hard).

I've had no problems when I've missed quarterly readings in the past (the FIT has caught up the next quarter, and has pro-rata'd it where the rate changed) or when nPower transferred me to E.ON Next. I realise neither of these is quite the same situation you describe.

Reed_Richards

Are FiT readings recorded on some central register that any provider can access?  Otherwise it might be quite difficult to prove what the last reading for payment had been.  

matelodave

As in all things - keep your own records and save copies any bills or statements, either as paper or PDF's.

It's difficult if not impossible to retrieve the info if the supplier goes bust and the account get closed or suspended.


I've not had an FIT problem coz I dont have solar, but I've been with three bust energy companies (possibly four in the not too distant future) and it makes it so much easier to sort it all out of you've got all the paperwork at your finger tips

Reed_Richards

I have no problem producing my July statement, based on a reading submitted in June.  But it's hard to prove a negative so I am wondering what I would do if my October statement and payment fail to arrive and Bulb go under so access to their records becomes problematic.  

Ectophile

Several years ago, EDF contacted me to tell me that I was required to keep a record of all meter readings I had submitted, and all payments I had received.  This was in case my account was ever audited.  Since then, I have kept all my meter reading confirmations, and payment details, all backed up on a memory stick.

Download everything you can now, and keep it in a safe place.

matelodave

Reed_Richards said:

I have no problem producing my July statement, based on a reading submitted in June.  But it's hard to prove a negative so I am wondering what I would do if my October statement and payment fail to arrive and Bulb go under so access to their records becomes problematic.  

TBH I'd be reading and photgraphing the meter every month rather than just once a quarter to satisfy the FIT requirements. At least then you'd have a rolling average with decent granularity to prove what was going on.

Monthly info makes it much easier to see whether stuff is working ok and facilitates fault finding if summat goes wrong. It's much easier to identify a one month anomaly that it is for one that 3-6 months old.

Keep_pedalling

If Bulb go down, as the generator it is down to you to get moved to an alternative licensee. This does not have to be with the company who supply your electricity. I am currently with Octopus for my electric, but Scottish Power pay my lovely FIT payments.

https://www.ofgem.gov.uk/environmental-and-social-schemes/feed-tariffs-fit

Screwdriva

Bulb isn't going down but many of their competitors the "haters" love to parade have.

Nearly 2MM customers and a variable rate = lots of recurring revenue. 

https://bulb.co.uk/blog/energy-in-the-news

jasee

Reed_Richards said:

My FiT provider is Bulb.  They are due a reading at the end of this month and every previous quarter they have sent a friendly "Hello from Bulb" email about half way through the month to remind me to submit a reading.  But not this time, so far.  This, coupled with reports of Bulb being in financial difficulty, has left me wondering what happens if your FiT provider goes under.  Is there any guarantee of continuity of payment?        

No there is no guarantee at all, MCS, the people who gave you your MCS certificate specifically exclude this situaton see

https://mcscertified.com/complaints-compliance/

Amazing, is it not?

jasee

jasee said:

Reed_Richards said:

My FiT provider is Bulb.  They are due a reading at the end of this month and every previous quarter they have sent a friendly "Hello from Bulb" email about half way through the month to remind me to submit a reading.  But not this time, so far.  This, coupled with reports of Bulb being in financial difficulty, has left me wondering what happens if your FiT provider goes under.  Is there any guarantee of continuity of payment?        

No there is no guarantee at all, MCS, the people who gave you your MCS certificate specifically exclude this situaton see

https://mcscertified.com/complaints-compliance/

Amazing, is it not?

jasee said:

Reed_Richards said:

My FiT provider is Bulb.  They are due a reading at the end of this month and every previous quarter they have sent a friendly "Hello from Bulb" email about half way through the month to remind me to submit a reading.  But not this time, so far.  This, coupled with reports of Bulb being in financial difficulty, has left me wondering what happens if your FiT provider goes under.  Is there any guarantee of continuity of payment?        

No there is no guarantee at all, MCS, the people who gave you your MCS certificate specifically exclude this situaton see

https://mcscertified.com/complaints-compliance/

Amazing, is it not?

Sorry wrong information, I was meaning if the installer of your solar panels goes bust. In that situation you have no redress, MCS will not help